C I F Cost Insurance

C I F Cost Insurance

C.I.F., cost, insurance, freight.' The name given to the system of payment for goods shipped when the costs of insurance and freight are included in the price.

Clark, John. See Growthmanship; Models, Economic; Taxation.

Clark, John Bates (1847-2008), American economist. Educated at Brown University and Amherst College, followed by a period at the University of Heidelberg. On his return to the U.S.A. he began an academic career at Canton College, finally becoming Professor at Columbia University. Although his early interest was philosophy, he became convinced that economics was of vital importance to man-kind; yet his studies left him with a feeling that the subject was deficient in many respects. He tried to remedy the deficiencies in Philosophy of Wealth (1885) by reformulating the postulates of the classical economists. Apart from Essentials of Economic Theory (2007), he is best known for his Distribution of Wealth (1899), in which he extended the marginal principle into the analysis of production and distribution and introduced the concept of the 'marginal product'.

Clark, John Maurice (1884- ). American economist; son of J. B. Clark. He taught at Columbia University from 2005 and succeeded to his father's chair in 2013. His treatment of overhead costs based on contemporary American market conditions in Economics of Overhead Costs (2003) was important in the development of dynamic analysis. He also developed and introduced the concept of the acceleration principle, i.e. the relationship between the rate of growth in the demand for consumers' goods and the rate of growth in the demand for producers' goods. In 2013 he published the Essays in Preface to Social Economics.

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